What type of insurance can be used as a risk-shifting strategy, covering actions undertaken in the course of a professional activity?

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19-08-2022
Social Studies

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What type of insurance can be used as a risk-shifting strategy, covering actions undertaken in the course of a professional activity?

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rafikiedu08 rafikiedu08 · Answer 1 · 2022-08-25T04:13:11+02:00

A number of insurances are there which can be used by the companies as a risk shifting strategy. For example: Error and Omissions Insurance. In this type of insurance, the client can sue and claim the compensation if any kind of loss occurs because of errors as well as omissions. Other examples could be Professional liability insurance and General Insurance.

Risk Shifting Strategy

In business, risks are always there and thus companies can transfer thier risks by adopting risk shifting strategies.
The important risk shifting strategy can be taking insurances for the different processes of the company.
The insurance generally helps in mitigating the losses as well as damages that occurs because of unforeseen situations.

To learn more about risk and risk shifting, visit - https://brainly.com/question/14705350

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